WesternOne Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Capital Expenditures Guidance for the Second Half of 2017
For the six months, the company reported revenue from continuing Operations of $40.2 million compared to $35.0 million a year ago. Adjusted EBITDA was $4.4 million compared to $6.1 million a year ago. Net loss from continuing operations was $14.6 million or $0.86 per share compared to $18.3 million or $16.16 per share a year ago. Net loss was $17.4 million or $1.03 per share compared to $26.5 million or $23.42 per share a year ago.
The company expect capital expenditures for the second half of 2017 to remain replacement focused and net expenditure will be 0 as purchases will be funded through disposals. And additional CapEx of up to $3 million primarily relating to heat equipment may be deployed as outcomes of several heat project bids are slated to be announced in early to mid-September.